Offshoreonly.com - Coast Guard Vessel Documentation / Questions

Quote:

Originally Posted by cougarman (Post 4098403)

I understand ever state is slightly different however researching Vessel Documentation.

1) If you document your vessel do you lose your title or do you have vessel documentation and a title?

2) If I don't like the program, can I go back to a title?

Thanks
Jon

There are several issues to be concerned with when it comes to documenting a boat; proof of ownership (title), state registration and sales tax. Registration and sales tax requirements vary by state. In most cases if the boat is documented, you do not need to affix registration stickers or numbering on the hull as long as you have the official number located on the boat. Documented vessels require the name and port of call on the transom. As for your specific questions, this is my understanding.

1) If you document your boat, that will become the evidence that you own the boat and you no longer need a state issued title. If you currently own the boat outright and have a state issued title, you will need that as proof when you document the vessel. If you have a loan on the boat, then you will have a vessel mortgage recorded with the Coast Guard and when you go to sell the boat, you will need to provide a satisfaction of mortgage to the Coast Guard in order for them to transfer title on your vessel to the buyer. You will also need a notarized Coast Guard bill of sale and that will serve as the title transfer along with the vessel mortgage satisfaction if applicable. Most states that have sales tax requirements do not waive those if you document the boat.

2) You can file a request to remove the documentation but how you go about obtaining a new title could be tricky. If you're not sure you want to document the boat, wait until you are or don't do it. All of these transactions with the Coast Guard take time... a LOT of time. For example, the Coast Guard is currently processing documentation requests from 12/3/2013 right now..